HomeMy WebLinkAboutGilroy Gardens - Lease Agreement - Amendment No. 3
THIRD AMENDMENT TO SINGLE TENANT LEASE
[Gilroy Gardens Property, Gilroy, California]
This Third Amendment to Single Tenant Lease Amendment ("Amendment") is dated for
reference purposes only as of the 6th day of April, 2010, by and between GILROY GARDENS
FAMILY THEME PARK lNC, a Delaware nonprofit corporation, formerly known as Bonfante
Gardens, Inc., ("Tenant") and the CITY OF GILROY a municipal corporation ("Landlord")
Recitals
A. Landlord and Tenant are parties to that certain Single Tenant Lease dated February 28,
2008, (the "Lease") pursuant to which Landlord leases to Tenant and Tenant leases from
Landlord certain real property located in Gilroy, California, which is improved with a
horticultural education and theme park known as "Gilroy Gardens," which was developed
and constructed by Tenant and is more particularly described in the Lease.
B. Article 2 of the Lease provides for the term of the Lease to commence on the
Commencement Date (as that term is defined in the Lease), and to terminate on February
28, 2010.
C. Pursuant to that certain Second Amendment to Lease dated for reference purposes as of
July 28, 2009, the parties extended the Term of the Lease for a one (1) year period
through and including February 28, 2011 (which was referred to in that amendment as the
First Extension Term).
D. The parties wish to extend the Term of the Lease for two (2) additional years through and
including February 28,2013.
NOW THEREFORE in consideration of the mutual covenants and agreements set forth below
and for other valuable consideration the receipt and adequacy of which is hereby acknowledged
the parties hereto agree as follows:
1. Defined Terms. All capitalized terms used herein except as otherwise expressly provided
herein shall have the meanings ascribed to them in the Lease.
2. Extension of Lease Term. Article 2 of the Lease is modified by the addition of a new
Section 2.4 which reads as follows:
2.4 Second Extended Term. The Term of the Lease is
hereby extended for a period of two (2) years and shall expire on
February 28,2013 ("Second Extension Term"), unless sooner
terminated in accordance with the terms of the Lease.
3. Counterparts: Facsimile Signatures. This Amendment may be execut~d in counterparts,
each of which shall be deemed an original and which together shall constitute one
instrument. The signature's of any party or parties on this Amendment transmitted by
facsimile shall be deemed the same as an original signature and shall be binding on the
party transmitting the same.
4. Lease Status. Tenant warrants, represents and certifies to Landlord that, to the best of
Tenant's actual knowledge, as of the date of this Amendment: (a) Landlord is not in
default under the Lease; and (b) Tenant does not have any defenses or offsets to payment
of rent and performance of its obligations under the Lease as and when same becomes
due.
5. Modification. Except as modified above the terms and conditions of the Lease shall
remain unmodified and in full force and effect. In the event of any conflict or
inconsistency between the terms of this Amendment and the terms of the Lease the terms
of this Amendment shall control.
IN WITNESS WHEREOF the parties hereto have executed this Amendment as of the date and
year first written above.
(signatures on following page)
ITMORELLI797787.2
072709.04706118
2
LANDLORD:
CITY OF GILROY,
a ill icipal corporation
APPROVED AS TO FORM:
,7f~~,- ~
(.
City Attorney \ I.AY\Q(l.,~tlOv\
ITMORELLI797787.2
072709.04706118
TENANT:
GILROY GARDENS FAMILY THEME
PARK,
a Delaware nonprofit public benefit
corporation former known as "Bonfante
Gardens, Inc."
By:
Its:
3